Succession planning is a process where forward thinking companies identify, prepare and develop employees, family or external candidates with the ability and the potential to fill key business leadership positions in theorganization.
Succession planning increases the availability of experienced and capable employees that are prepared to assume these roles as they become available.
The following are some of the common core objectives utilized by successful companies when embarking on succession planning for their organizations.
Identify those with the potential to assume greater responsibility in the organization
Provide critical development experiences to those that can move into key roles
Engage the leadership in supporting the development of high-potential leaders
Build a data base that can be used to make better staffing decisions for key jobs
Improve employee commitment and retention
Meet the career development expectations of existing employees
Counter the increasing difficulty and costs of recruiting employees externally
ZSE would work with your organization to ensure that the decisions relating to Succession Planning would be undertaken at the appropriate time.
It is necessary for these decisions to take place sooner than later.